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Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
 India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power generation and is the third largest energy consumer, making it a vital commodity for India. According to Reuters, the country's coal demand for power generation is expected to be 821,000 kt in the focus year 2023-2024, an increase of 8% compared to last year.
Looking at India's seaborne coal imports, there is an increase of 19% from 2021 to 2022, with imports standing at 208,034.13 kt. This year, the country has already imported volumes equivalent to 37% of last year's imports, or 76,728.95 kt, a figure that is expected to rise further as we enter the second half of the year, and it is expected that more coal will be needed to meet the country's electricity demand. A closer look at quarterly coal imports shows that in 2021 and 2022, Q2 was the strongest period with 51,859.07 kt and 64,261.28 kt respectively. This makes sense as India's peak power season is in the summer months and stockpiling is needed to ensure energy security. On the steel front, the country is also experiencing growth in this industry. In 2023, India's steel demand is expected to be in the range of 130mmt -135mmt, about 6% higher than last year.
Taking a look at India's top importers, the top 4 are Indonesia, Australia, South Africa and Russia. As far as Indonesia is concerned, shipments to India have been increasing since 2021 and the trend is likely to continue. They totalled 49,417.93 kt in 2021, 86,675.97 kt in 2022 and currently stand at 31,530.67 kt for 2023, which is 36% of last year's imports. The same cannot be said for Australia and South Africa, as both countries' coal exports to India have been declining since 2021. Australia exported 68,003.09 kt in 2021, 55,440.31 kt in 2022 and 13,384.15 kt so far in 2023, 24% of last year's exports. South Africa exported 24,347.48 kt in 2021, 17,255.53 kt in 2022 and 9,230.68 kt so far in 2023, which is 53% of the 2022 volume, a remarkable figure, and the biggest amongst the top 4 exporters.
The same is true for Russia. India imported 6,987.85 kt in 2021, 18,941.25 kt in 2022, while imports so far stand at 9,523.40 kt, which is 50% of last year's imports. This could be explained by the traditionally lower price of South African coal compared to Australian coal, while Russian coal became more lucrative after the invasion of Ukraine.
The largest percentages of volume shipped to India this year compared to last are from South Africa and Russia, indicating a strong interest to continue on this path. This means that the demand for tonne miles is increasing, which in turn supports freight rates. The vessel types most used in this trade are Kamsarmax and Capesize. If the trend continues and India continues to import more coal from distant countries, rates for the trade may increase.
By Fotis Kanatas
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
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